Mizuho Securities USA LLC has reiterated its ‘Buy’ rating and raised its price target from $28.00 to $51.00 on shares of Zogenix, Inc.’s (NASDAQ: ZGNX) stock. The report follows the company’s release of positive topline data for its pivotal phase 3 trial of ZX008 in Dravet Syndrome – Study 1. The study reached its primary endpoint, representing that 0.8 mg/kg/day of ZX008 as an adjunctive therapy is greater than a placebo in reducing mean monthly convulsive seizure frequency. The results also validate ZX008s mechanism of action involving Sig-1R receptor. The analyst noted that the efficacy results are better than expected, which bodes well for ZX008 moving forward.
For more information, visit www.Zogenix.com
Zogenix, Inc is a pharmaceutical company engaged in developing and commercializing central nervous system (CNS) therapies that address specific clinical needs for people living with orphan and other CNS disorders. Its primary area of therapeutic focus is epilepsy and related seizure disorders. Its lead product candidate, ZX008, is a low-dose fenfluramine for the treatment of seizures associated with Dravet syndrome.
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